The global packaging market is growing at a substantial rate over the forecast period (2020-2027). According to the GMI Research forecast, the market is growing due to the increasing acceptance of digital printing across various brands and growing technological advancement and product innovation.
The packaging is the systematic procedure of enclosing or protecting products for safe distribution, sale, storage, and usage. The packaging offers a protective layer on the products, thereby saving them from physical damage while improving the sustainability of the products for a longer time. It also supports retaining the freshness of the product and make the shipment process easier.
The growing acceptance of digital printing across various brands globally is one of the key drivers that is enhancing the demand of the packaging market. According to packaging industry research, digital print on the packing of the goods enhances the product appeal while offering relevant product information such as date of manufacturing, price of the product, and ingredients used in the products. Furthermore, continuous technological advancement and product innovation will bring various growth opportunities in the market, hence promoting the manufacturers towards the adoption of attractive packaging for exceptional brand recognition. According to the packaging market research, the growing accessibility of third-party logistics service companies in the packaging industry will further propel the demand of the market during the forecast period.
The rapid use-sectors of packaging, such as retail, consumer goods, food, and pharmaceuticals sector, will accelerate the demand of the market. According to the packaging industry analysis, the rising urbanization, along with the changing diet patterns, and the increasing population rate, are some other factors energizing the growth of the packaging market. With the growing economic growth and rising personal disposable income, consumers have started opting for ready-to-eat packed food products. In addition to this, numerous food & beverage manufacturers are emphasizing on expanding their product offerings with reusable packaging materials and investing in R&D activities in biodegradable packaging. All these factors will further enhance the demand for the packaging industry. The growing penetration of the Internet and smartphones worldwide is leading to the expansion of the e-commerce market, which in turn, is bolstering the growth of the packaging market share in terms of revenue. On the other edge of the spectrum, the increasing number of strict government policies on volatile organic compound (VOC) emissions are hindering the growth of the packaging market.
Key Players of the Global Packaging Market:
• Sealed Air Corporation
• Berry Plastics Group Inc.
• Coveris Holdings S.A.
• Ball Corporation
• Crown Holdings
• Amcor Limited
• Mondi
• ProAmpac.
• Reynolds Group Holdings
• Bemis Company Inc.
Market Segmentation:
Global Packaging Market Report Segment by Material:
• Paper & Paperboard
• Rigid Plastics
• Flexible
• Metal
• Glass
• Others
Global Packaging Market Report Segment by Function:
• Cushioning
• Blocking & Bracing
• Void-fill
• Insulation
• Wrapping
• Others
Global Packaging Market Report Segment by Application:
• Food
• Beverage
• Healthcare
• Cosmetics
• Industrial
• Others
Global Packaging Market Report Segment by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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